The Tema Oil Refinery (TOR) has refuted claims of a supposed takeover by Sentuo Oil Refinery, following allegations of a meeting to discuss the sale of the national refinery to the Chinese-owned private oil refinery.
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured of the government’s support in reviving the Tema Oil Refinery (TOR) to boost downstream petroleum production.
The assurance is contained in a statement issued on 24 June under the hand of both the board of directors and the management of TOR
The Minister for Energy, Dr. Matthew Opoku Prempeh has revealed that crude condensation of about $2.5m allocated to the Tema Oil Refinery is reportedly missing.
A former managing director of the Tema Oil Refinery (TOR), Isaac Osei has said the state refinery is currently in good shape and requires the consistent purchase of crude oil to keep it running.
During this year’s United Nations (UNFCCC) 27th Conference of the Parties (COP 27) in Egypt, Ghana’s President Akufo-Addo has been teaming up with colleague African presidents to push rich countries who pollute the most to release the $100 billion in climate finance promised to poor countries to help them green their economies and adapt better to climate change.
The Institute for Energy Policies and Research (INSTEPR) has said about $500 million was needed to revamp the Tema Oil Refinery.
Mr. Abdulai cited technical and financial crises as the reasons TOR cannot be in operation in its current form to alleviate the fuel challenges in the country.
The Tema Oil Refinery (TOR) says it is in negotiation with a private investor, Decimal Capital Ltd, to refine crude oil in Ghana.